Word: globalization
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...older cities like Boston. Transformers usually serve five or six houses, so one household would probably be able to have an electric vehicle. But if two wanted to use the same transformer, there could be a problem, says Phil Gott, director of Automotive Science and Technology at IHS Global Insight...
Cambridge Mayor Denise Simmons said the city government needed to do more to “inject environmentally friendly practices” into the community and to “influence more global activities.” Simmons plans to use the Congress’ findings in any suggestions the City makes to the state and federal government, as well as to the global summit on climate change occurring in Copenhagen in June...
...when China linked its currency to the dollar in the early 1990s, it was out not to create trade surpluses but to carve out a bit of stability in turbulent global currency markets. During the emerging-market currency crises of 1997 and 1998, China's success in keeping the yuan fixed at 8.3 yuan to the dollar was applauded in the West as a major contribution to averting financial chaos. Since 2005, China has been willing to allow the yuan to appreciate a bit (the current exchange rate is 6.8 yuan to the dollar). It just hasn't been willing...
...corporations selling products at home that were partly or entirely made in China. As a result, the trade relationship with China has become far more ingrained in the economic fabric of the U.S. than that with Japan ever was. Some evidence: in the first nine months of 2009, the global economic slowdown cut the U.S. deficit with Japan 47% compared with the first nine months of 2008. The deficit with China dropped just...
...recent BBC global poll found widespread dissatisfaction with free-market capitalism, with only 11% of those questioned across 27 countries saying that it is working well. Perhaps not surprisingly, France led the world with 43% who say capitalism is "fatally flawed." Le Monde, meanwhile, reported on Saturday that the economic crisis has revived support for decroissance, a leftist, ecologically driven philosophy that questions the belief in economic growth as a public good...